Image2   Current Research Papers

   

 

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“Housing and the Great Depression”  

 

By Mehmet Balcilar, Rangan Gupta, and Stephen M. Miller

 

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Does Financial Development Volatility Affect Industrial Growth Volatility?”

 

By Ho-Chuan (River) Huang, WenShwo Fang, and Stephen M. Miller

 

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“Was the Recent Downturn in US GDP Predictable?”  

 

By Mehmet Balcilar, Rangan Gupta, Anandamayee Majumdar, and Stephen M. Miller

 

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Fiscal Policy Shocks and the Dynamics of Asset Prices: The South African Experience

 

By Goodness C. Aye, Mehmet Balcilar, Rangan Gupta, Charl Jooste, Stephen M. Miller and Zeynel Abidin Ozdemir

 

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Banking Market Structure, Liquidity Needs, and Industrial Growth Volatility”

 

By Ho-Chuan (River) Huang, WenShwo Fang, and Stephen M. Miller

 

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The Out-of-Sample Forecasting Performance of Non-Linear Models of Regional Housing Prices in the US”

 

By Mehmet Balcilar, Rangan, Gupta, and Stephen M. Miller

 

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“Purchasing Power Parity between the UK and the Euro Area

 

By Giorgio Canarella, Stephen M. Miller, and Stephen K. Pollard

 

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Output Growth and Its Volatility: The Gold Standard through the Great Moderation”

 

By WenShwo Fang and Stephen M. Miller

 

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The Bank Lending Channel and Monetary Policy Rules for European Banks: Further Extensions

 

By Nicholas Apergis, Stephen M. Miller, and Effrosyni Alevizopoulou

 

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The Effect of Growth Volatility on Income Inequality”

 

By Ho-Chuan (River) Huang, WenShwo Fang, and Stephen M. Miller

 

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Demographic Transition and Economic Welfare: The Role of Humanitarian Aid”

 

By Kyriakos C. Neanidis and Stephen M. Miller

 

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Firm Profitability: Mean-Reverting or Random-Walk Behavior?

 

By Giorgio Canarella, Stephen M. Miller, and Mahmoud M. Nourayi

 

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“The Effect of ESCOs on Carbon Dioxide Emissions

 

By WenShwo Fang and  Stephen M. Miller

 

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“Do ESCOs Effectively Reduce Energy Use? Energy Policy, December 2012

 

By WenShwo Fang and  Stephen M. Miller

 

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The Global Financial Crisis and Stochastic Convergence in the Euro Area International Advances in Economic Research, August 2011

 

By Giorgio Canarella, Stephen M. Miller, and Stephen K. Pollard

 

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“Using Large Data Sets to Forecast Sectoral Employment”

 

By Rangan Gupta, Alain Kabundi, Stephen M. Miller, and Josine Uwilingiye

 

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“Forecasting Nevada Gross Gaming Revenue and Taxable Sales Using Coincident and Leading Employment Indexes”  Shorter version in Empirical Economics, forthcoming

 

By Mehmet Balcilar, Rangan Gupta, Anandamayee Majumdar, and Stephen M. Miller

 

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“Country and Industry Convergence of Equity Markets: International Evidence from Club Convergence and Clustering”

 

By Nicholas Apergis, Christina Christou, and Stephen M. Miller

 

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“Convergence Patterns in Financial Development: Evidence from Club Convergence”  Empirical Economics, available on line December 3, 2011

 

By Nicholas Apergis, Christina Christou, and Stephen M. Miller

 

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“Financial Market Liberalization, Monetary Policy, and Housing Price Dynamics” International Business & Economics Research Journal, 11(1) 2012

 

By Rangan Gupta, Stephen M. Miller, and Dylan van Wyk

 

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Unit Roots and Structural Change: An Application to US House-Price Indices Shorter version in Urban Studies, March 2012

 

By Giorgio Canarella, Stephen M. Miller, and Stephen K. Pollard

 

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The Lag in Effect of Inflation Targeting and Policy Evaluation Applied Economic Letters, 18(14) 2011 

By WenShwo Fang and Stephen M. Miller

 

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What Can We Learn about Inflation Targeting? Evidence from Time-Varying Treatment Effects

 

By WenShwo Fang, Stephen M. Miller, and ChunShen Lee

 

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The Great Moderation and Leptokurtosis after GARCH Adjustment Shorter version in Empirical Economic Letters, June 2010

 

By WenShwo Fang, Stephen M. Miller, and ChunShen Lee

 

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"Understanding Central Bank Loss Functions: Implied and Delegated Targets”

 

By Huiping Yuan and Stephen M. Miller

 

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“Forecasting the US Real House Price Index: Structural and Non-Structural Models with and without Fundamentals” Economic Modelling, July 2011

 

By Rangan Gupta, Alain Kabundi, and Stephen M. Miller

 

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“Monetary Policy and Housing Sector Dynamics in a Large-Scale Bayesian Vector Autoregressive Model”  International Journal of Strategic Property Management, April 2012

 

By Rangan Gupta, Marius Jurgilas, Alain Kabundi, and Stephen M. Miller

 

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“Using Large Data Sets to Forecast Housing Prices: A Case Study of Twenty US States” Journal of Housing Research, 20(2) 2011

 

By Rangan Gupta, Alain Kabundi, and Stephen M. Miller

 

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“Time Series Properties of Housing Prices: A Case Study of the Southern California Market” Journal of Real Estate Finance and Economics, April 2012

 

By Rangan Gupta and Stephen M. Miller

 

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“‘Ripple Effects’ and Forecasting Home Prices in Los Angeles, Las Vegas, and Phoenix” The Annals of Regional Science, 48(3), 2012

 

By Rangan Gupta and Stephen M. Miller

 

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"The Principal-Agent Approach to Monetary Policy Delegation” In Challenges in Central Banking: The Current Institutional Environment and Forces Affecting Monetary Policy, eds. P. L. Siklos, M. T. Bohl, and M. E. Wohar, Cambridge University Press, 2010

 

By Georgios E. Chortareas and Stephen M. Miller

 

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“Do Structural Oil-Market Shocks Affect Stock Prices?” Energy Economics, July 2009

 

By Nicholas Apergis and Stephen M. Miller

 

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Geographic Deregulation and Commercial Bank Performance in US State Banking Markets Quarterly Review of Economics and Finance, February 2011

 

By Yong-Dong Zou, Stephen M. Miller, and Bernard Malamud

 

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Is the Great Moderation Ending? UK and US Evidence Modern Economy, May 2010

 

By Giorgio Canarella, WenShwo Fang, Stephen M. Miller, and Stephen K. Pollard

 

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Does a Threshold Inflation Rate Exist? Quantile Inferences for Inflation and Its Variability Shorter version in Empirical Economics, December 2010

 

By WenShwo Fang, Stephen M. Miller, and Chih-Chuan Yeh

 

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Cross-Country Evidence on Output Growth Volatility: Nonstationary Variance and GARCH Models Scottish Journal of Political Economy, September 2008

 

By WenShwo Fang, Stephen M. Miller, and ChunShen Lee

 

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"Modeling the Volatility of Real GDP Growth: The Case of Japan Revisited" Japan and the World Economy, August 2009

 

By WenShwo Fang and Stephen M. Miller

 

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“Cost Improvements, Returns to Scale, and Cost Inefficiencies for Real Estate Investment Trusts”

 

By Stephen M. Miller and Thomas M. Springer

 

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"Total Factor Productivity and Monetary Policy: Evidence from Conditional Volatility" International Finance, Summer 2007

 

By Nicholas Apergis and Stephen M. Miller

 

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"Restructuring the Wealth Effect on Consumption: Further Analysis and Extension"

 

By Nicholas Apergis and Stephen M. Miller

 

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"The Great Moderation and the Relationship between Output Growth and Its Volatility" Southern Economic Journal, January 2008

 

By WenShwo Fang and Stephen M. Miller

 

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"A General Schema for Monetary Policymaking: Objectives and Rules” Economic Modelling, May 2010

 

By Huiping Yuan and Stephen M. Miller

 

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"The Walsh Contract for Central Bankers Are Optimal After All!” Public Choice, April 2007

 

By Georgios E. Chortareas and Stephen M. Miller

 

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"The Making of Optimal and Consistent Policy: An Implementation Theory Framework for Monetary Policy”

 

By Huiping Yuan and Stephen M. Miller

 

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"The Making of Optimal and Consistent Policy: An Analytical Framework for Monetary Models” Scottish Journal of Political Economy, February 2011

 

By Huiping Yuan, Stephen M. Miller, and Langnan Chen

 

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"Designing Central Bank Loss Functions” International Journal of Business and Economics, April 2010

 

By Huiping Yuan and Stephen M. Miller

 

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Economies of Scale and Cost Efficiencies: A Panel-Data Stochastic-Frontier Analysis of Real Estate Investment Trusts” The Manchester School, July 2006

 

By Stephen M. Miller, Terrence M. Clauretie, and Thomas M. Springer

 

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”Using Equity Markets to Teach Long-Run Monetary Neutrality International Review of Economics Education, June 2010

 

By Stephen M. Miller

 

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“Export Promotion through Exchange Rate Policy: Exchange Rate Depreciation or Stabilization” Southern Economic Journal, January 2006

 

By WenShwo Fang, YiHao Lai, and Stephen M. Miller

 

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“Does Exchange Rate Risk Affect Exports Asymmetrically? Asian Evidence”

 

By WenShwo Fang, YiHao Lai, and Stephen M. Miller

 

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"Exchange Rate Depreciation and Exports: The Case of Singapore Revisited" Applied Economics, February 2007

 

By WenShwo Fang and Stephen M. Miller

 

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"The Value of Waiting: Foreign Direct Investment with Uncertainty and Imperfect Local Knowledge"

 

By Yongil Jeon, Taekwon Kim, and Stephen M. Miller

 

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"The Geographic Distribution of the Size and Timing of Monetary Policy Actions"

 

By Yongil Jeon and Stephen M. Miller

 

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"Inflation Targeting and Output Growth: Evidence from Aggregate European Data" International Monetary Fund Working Paper No. 05/89 and Economic & Financial Modeling, Summer 2008

 

By Nicholas Apergis, Stephen M. Miller, Alexandros Panethimitakis, and Athanassios Vamvakidis

 

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"Consumption Asymmetry and the Stock Market: New Evidence through a Threshold Adjustment Model"

 

By Nicholas Apergis and Stephen M. Miller

 

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"Consumption Asymmetry and the Stock Market: Empirical Evidence" Economics Letter, December 2006

 

By Nicholas Apergis and Stephen M. Miller

 

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"Macroeconomic Rationality and Lucas's Misperceptions Model: Further Evidence from Forty-One Countries" Journal of Economics and Business, May-June 2004

 

By Nicholas Apergis and Stephen M. Miller

 

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"Explaining Economic Growth: Factor Accumulation, Total Factor Productivity Growth, and Production Efficiency Improvement"

 

By Yasmina R. Limam and Stephen M. Miller

 

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"MBA Program Reputation: Objective Rankings For Students, Employers, And Program Administrators"

 

By Yongil Jeon, Stephen M. Miller, and Subhash Ray

 

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"An ‘Ideal’ Decomposition of Industry Dynamics: An Application to the Nationwide and State-Level U.S. Banking Industry"

 

By Yongil Jeon and Stephen M. Miller

 

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"Foreign and Domestic Bank Performance: An Ideal Decomposition of Industry Dynamics"

 

By Yongil Jeon and Stephen M. Miller

 

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"Bank Performance: Market Power or Efficient Structure"

 

By Yongil Jeon and Stephen M. Miller

 

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"Deregulation and Structural Change in the U.S. Commercial Banking Industry" Eastern Economic Journal, Summer 2003

 

By Yongil Jeon and Stephen M. Miller

 

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"Has Deregulation Affected Births, Deaths, and Marriages in the U.S. Commercial Banking Industry" Economic Inquiry, April 2007

 

By Yongil Jeon and Stephen M. Miller

 

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"Explaining U.S. Commercial Bank Births, Deaths, and Marriages"

 

By Yongil Jeon and Stephen M. Miller

 

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"Do Foreign Bank Operations Provide a Stabilizing Influence in Korea?" Quarterly Review of Economics and Finance, February 2006

 

By Yongil Jeon, Stephen M. Miller, and Paul A. Natke

 

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"The Performance of Domestic and Foreign Banks: The Case of Korea and the Asian Financial Crisis" Global Economic Review, June 2005

 

By Yongil Jeon and Stephen M. Miller

 

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"The Effect of the Asian Financial Crisis on the Performance of Korean Nationwide Banks" Applied Financial Economics, 1 March 2004

 

By Yongil Jeon and Stephen M. Miller

 

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"The Real Exchange Rate in Small Open Developed Economies: Evidence from Cointegration Analysis" Economic Record, March 2004

 

By Debabrata Bagchi, Georgios E. Chortareas, and Stephen M. Miller

 

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"Central Banker Contracts, Incomplete Information, and Monetary Policy Surprises: In Search of a Selfish Central Banker?" Public Choice, September 2003

 

By Georgios E. Chortareas and Stephen M. Miller

 

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"Optimal Central Banker Contracts and Common Agency" Public Choice, October 2004

 

By Georgios E. Chortareas and Stephen M. Miller

 

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"Monetary Policy Delegation, Contract Costs, and Contract Targets" Bulletin of Economic Research, January 2003

 

By Georgios E. Chortareas and Stephen M. Miller

 

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"The Relationship between Large Fiscal Adjustments and Short-Term Output Growth under Alternative Fiscal Policy Regimes" Contemporary Economic Policy, January 2003

 

By Stephen M. Miller and Frank S. Russek

 

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"Productivity Growth in Large US Commercial Banks: The Initial Post-Deregulation Experience" Journal of Banking and Finance, May 2001

 

By Kankana Mukherjee, Subhash C. Ray and Stephen M. Miller

 

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"Teaching Time Preference and Human Impatience: The Billionaire Game"

 

By Stephen M. Miller

 

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"The Perception of Government Bonds and Money as Net Wealth: An Integrated Approach" Eastern Economic Journal, Fall 1998

 

By Alpha C. Chiang and Stephen M. Miller

 

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"An Endogenous Model of Union Density and Membership"

 

By Habib Ahmed and Stephen M. Miller

 

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"Total Factor Productivity, Human Capital, and Outward Orientation: Differences by Stage of Development and Geographic Regions”

 

By Stephen M. Miller and Mukti P. Upadhyay

 

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"Total Factor Productivity and the Convergence Hypothesis" Journal of Macroeconomics, June 2002

 

By Stephen M. Miller and Mukti P. Upadhyay

 

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"The Effects of Openness, Trade Orientation, and Human Capital on Total Factor Productivity" Journal of Development Economics, December 2000

 

By Stephen M. Miller and Mukti P. Upadhyay

 

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"The Exchange Rate-Investment Nexus and Exchange Rate Instability: Another Reason for ‘Fear of Floating’" Keio Economic Studies, forthcoming

 

By Habib Ahmed, C. Paul Hallwood, and Stephen M. Miller

 

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"Crowding-Out and Crowding-In Effects of the Components of Government Spending" Contemporary Economic Policy, January 2000

 

By Habib Ahmed and Stephen M. Miller

 

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"The Level of Development and the Determinants of Output Growth: A Cross-Country Analysis" Applied Economics, June 2002

 

By Habib Ahmed and Stephen M. Miller

 

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"Monetary and Exchange Rate Policy in Multisectoral Economies” Journal of Economics and Business, July/August 1997

 

By Habib Ahmed and Stephen M. Miller

 

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"Using Leading Indicators to Forecast U.S. Home Sales in a Bayesian VAR Framework" Journal of Real Estate Finance and Economics, March 1999

 

By Pami Dua, Stephen M. Miller, and David J. Smyth

 

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"Performance Evaluation of the New Connecticut Leading Employment Index Using Lead Profiles and BVAR Models" Journal of Forecasting, September 2006

 

By Anirvan Banerji, Pami Dua, and Stephen M. Miller

 

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"The Long-Run Relationship between Money, Nominal GDP, and the Price Level in Venezuela: 1950 to 1996"

 

By Victor Olivo and Stephen M. Miller

 

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"Optimal Negotiated Transfer Pricing and Its Implications for International Transfer Pricing of Intangibles"  International Journal of Intellectual Property Management, 4(4) 2011

 

By Peter C. Dawson and Stephen M. Miller

 

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"Currency Depreciation and Korean Stock Market Performance during the Asian Financial Crisis"

 

By WenShwo Fang and Stephen M. Miller

 

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"Dynamic Effects of Currency Depreciation on Stock Market Returns during the Asian Financial Crisis"

 

By WenShwo Fang and Stephen M. Miller

 

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"Explaining Recent Connecticut Bank Failures"

 

By Stephen M. Miller and Athanasios G. Noulas

 

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